Lukoil in Talks to Develop two Oil Fields

A senior official with Lukoil said the Russian energy giant is in talks with Iran to develop two major oil fields in western Iran.

Lukoil is in negotiations with National Iranian Oil Company (NIOC) about the Ab Teymour and Mansouri oil fields in western Iran, Gati Al-Jebouri, Lukoil’s head of upstream for the Middle East, said, according to Bloomberg.

“Iran is our target area at the moment,” he added.

Al-Jebouri further expressed the hope that the Russian company could agree on a common development program for the fields in the first half of 2017.

In December, high-ranking officials from Iran’s oil ministry and the giant Russian oil and gas company, Gazprom, signed a major deal to promote cooperation in the development of two other oil fields in west of Iran.

In a ceremony attended by Iranian Oil Minister Bijan Namdar Zanganeh and Russian Energy Minister Alexander Novak at the time, the agreement to conduct studies for the development of Cheshme Khosh and Changouleh oil fields were signed between the two sides.

Cheshme Khosh oilfield is located in Dehloran, Ilam province, near the border with Iraq.

Iran shares oil and gas fields with most of its neighbors, including Iraq, Kuwait, Qatar as well as Oman and Turkmenistan.

Based on studies, there are 23 joint hydrocarbon fields between Iran and Iraq which are divided into exploration, development and production categories.